Egypt's El Sisi orders new emergency agency to build up strategic reserves

Egyptian President Abdel Fattah El Sisi has established a new emergency agency, overseen by army general Mohammed Abdel Rahman Rabia, to explore the creation of strategic reserves. This development comes as tensions rise between Iran and the US, potentially disrupting supply chains. In a statement released on Saturday, El Sisi emphasized the need for the authority to "study the creation of strategic reserves for the state to counter emergency situations in coordination with the country's institutions."

Last week, El Sisi cautioned that military escalation could have "disastrous" consequences for the region and the world, urging all parties to seek a diplomatic resolution before it's too late. Egypt has largely avoided the conflict that erupted in the Middle East following Iran's February 28th war, with Iran targeting its Arab neighbors using missiles and drones.

However, a drone strike in July ignited a gas tanker at the Mediterranean port of Damietta, though no one claimed responsibility. In a recent move, Egypt announced plans to deploy troops to Saudi Arabia to protect its ally against Houthi attacks from Yemen, though the deployment's status remains unclear. The El Sisi government has also beefed up security along Egypt's Red Sea coastline and at the Suez Canal, anticipating the potential impact of renewed hostilities.

Despite concerns, the nation's strategic reserves of essential food items, primarily wheat flour, are deemed sufficient to last six months. State importer Future of Egypt recently acquired five cargo shipments of wheat, marking one of its largest purchases in six months.